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The rupee managed to improve against the dollar on the money market on Tuesday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: RATES: The rupee moved up versus the dollar for buying and selling at Rs 154.20 and Rs 154.25 respectively, they said.

OPEN MARKET RATES: The rupee picked up 10 paisas in terms of the dollar for buying and selling at Rs 154.10 and Rs 154.40 respectively, they said. The rupee also did not move any side in terms of the euro for buying and selling at Rs 166.30 and Rs 167.80 respectively, they said.

In the second Asian trade, the euro fell towards a three-year low versus the dollar ahead of a highly watched German survey on Tuesday, which is expected to show a sharp slump in investor confidence and fuel growing pessimism about the outlook for Europe's largest economy.

Financial markets clung to tight ranges following a US public holiday on Monday, shifting the investor focus to European news and developments in the coronavirus crisis.

Sentiment for the euro has worsened dramatically this month after weak manufacturing and gross domestic product data from Germany, Europe's largest economy, suggested that the euro zone is more vulnerable to external shocks that previously thought.

Sterling also nursed losses against the dollar and the euro due to worries about economic ties between Britain and the European Union as both sides laid out conflicting views on how to proceed with trade negotiations.

The dollar was trading against the rupee at Rs 71.300, the greenback was at 4.146 in terms of the Malaysian ringgit and the US currency was available at 6.986 versus the Chinese yuan.

========================
Open Bid       Rs 154.10
Open Offer     Rs 154.40
========================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.

========================
Bid Rate       Rs 154.20
Offer Rate     Rs 154.25
========================

RUPEE IN LAHORE: The Pak rupee depreciated its worth on buying side while it stayed unchanged on selling side in relation to the greenback in the local currency market on Tuesday.

According to currency dealers, the greenback gained 25 paisas for buying and ended at Rs 153.75 against the opening rate of Rs 154.50 whereas it did not observe any change for selling at Rs 154.20.

Furthermore, the national currency witnessed divergent trend as it moved both ways against the pound sterling. At the close, the pound was bought and sold at Rs 199.50 and Rs 200.50 against the Monday's closing trend of Rs 199.25 and Rs 200.60 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.

The dollar opened at Rs 154.50 (buying) and Rs 154.60 (selling) against same last rate.

It closed at Rs 154.50 (buying) and Rs 154.60 (selling).

The buying and selling rates of one tola of gold were Rs 91,150 (selling) and Rs 91,000 (buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020